According to a recent report published by Allied Market Research, titled, "India Optical Fiber and Accessories Market by Component, Cable Category, and End Use: Opportunity Analysis and Industry Forecast, 2018-2025," the India optical fiber and accessories market size was valued at $461.6 million in 2018 and is projected to reach $1.66 billion by 2026, growing at a CAGR of 17.2% from 2019 to 2026. An optical fiber is a transparent and flexible fiber made by drawing glass or plastic, which is used to transmit light. It is widely applicable in fiber-optic communications, where they allow transmission over longer distances and at higher bandwidths than wire cables. The Optical Fiber Accessories Market was valued at $303.2 million in 2018.
The prominent trends that boost the growth of India optical fiber and accessories market include upsurge in penetration of broadband connections in the developing economies, rise in demand for optical communication & sensing applications for different purposes, and surge in need for fast & improved networking and network services. In addition, an increase in demand for optical fiber cable (OFC) in the IT & telecom sector and growth in investment in optical fiber technology significantly contribute toward market expansion. However, high installation cost and enhanced adoption of wireless communication systems are anticipated to restrict the India optical fiber and accessories market growth.
Based on component, the comparative analysis is done between optical fiber and copper cables, among which the copper cable segment dominated the overall market in 2018 and is expected to continue this trend during the forecast period owing to continuous increase in traffic and rise in internet speed. This has resulted in growth in need of increased bandwidth. Furthermore, the optical fiber cable segment is expected to grow at the highest CAGR during the forecast period, owing to rapid growth in corporate local area networks (LANs).
The India optical fiber and accessories market share was led by the telecommunication segment in 2018 and is projected to maintain its dominance during the forecast period. However, the enterprise segment is expected to witness the highest growth owing to increased adoption of computers, followed by increase in amount of data generation. Nonetheless, increase in usage of outdoor advertising is also contributing to the growth of fiber optic cables in large enterprises, as such organizations are using fiber optic lighting in many applications.
The copper cable segment is further categorized as per the types of cables, among which the CAT6 cables segment dominated the market in terms of revenue during 2018 and is expected to follow the same trend during the forecast period.
Based on region, the India optical fiber and accessories market opportunities are analyzed across North ( include Delhi, Haryana, Himachal Pradesh, and Uttar Pradesh), South (includes Andhra Pradesh, Telangana, Karnataka, Kerala, Pondicherry, and Tamil Nadu), East (West Bengal, Bihar, Jharkhand, Odisha, Chhattisgarh, and Assam), and West (includes Goa, Gujrat, Maharashtra, Rajasthan, and Madhya Pradesh) region. The North region dominated the overall India optical fiber and accessories market in 2018 primarily due to increase in penetration of optical fiber technologies in developing economies owing to numerous upcoming projects. However, East region is expected to witness the highest growth rate during the forecast period.
Key Findings of the India Optical Fiber and Accessories Market :
- By component, the copper cable segment is expected to exhibit significant growth in the India optical fiber and accessories market during the forecast period.
- In 2018, the CAT6 cables segment accounted for the highest revenue in the cable category.
- Based on end use, the telecommunication segment generated the highest revenue in 2018.
- Based on region, the East region is anticipated to exhibit substantial growth during the forecast period.
Key players in India optical fiber and accessories industry includes Sterlite Technologies Limited., Finolex Cables Ltd., Birla Cable Limited, Vindhya Telelinks Ltd., Universal Cables Limited, Polycab India Limited, Gupta Power Infrastructure Ltd., KEC International Limited, APAR Industries Limited, and Aksh OptiFibre Ltd. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.